December 4, 2007
GREENWICH, CT and INDIANAPOLIS, IN – Great Point Partners, LLC (GPP) announced today a strategic investment in Health Systems International, LLC (HSI). HSI is a health care information technology company offering cost management solutions to payors and PPO networks around the world. HSI solutions relieve clients’ administrative burden and achieve the lowest possible cost of care.
As part of their investment, GPP Managing Director Jeffrey R. Jay, MD will join the HSI Board of Directors. Russell W. Sherlock, HSI’s President and CEO, and A. John Ansay, HSI’s Executive Vice President, will continue to oversee day-to-day operations and also serve on the Board of Directors.
Russell W. Sherlock stated, “We evaluated many potential partners to help us achieve our vision. The Great Point Partners team stood out amongst the field. Their track record of successful health care investing, strong business relationships, and capital resources necessary for our desired growth were unmatched. We look forward to an experienced partner helping us grow our company and expand our service.”
Dr. Jeffrey R. Jay of GPP said, “We are pleased to be partnering with HSI’s exceptional team. They are uniquely positioned to become the leading provider of medical cost management solutions. The company has strong management, blue chip customers, and a solid blueprint for growth. This foundation serves as an excellent platform for future acquisitions and organic growth initiatives. We look forward to working together to build a market leading position.”
About Health Systems International, LLC
Headquartered in Indianapolis, Indiana, HSI is a health care information technology company offering outsourced medical cost management solutions to health plan payors and provider networks around the world. Since 1987, HSI has utilized proprietary technology, experienced staff and the broadest selection of medical discount solutions to relieve client’s administrative burdens and achieve the lowest possible cost of care.
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $900 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.